A-LevelEconomicsThe price system and the microeconomy9708/32 · May/June 2018 · Q111 Mark

The diagram shows a firm in imperfect competition. It changed its aim from profit maximising to sales revenue maximising. [Figure 11.1] Which type of profit was it making in each case? profit maximising | sales revenue maximising ------------------|------------------------ A normal profit | supernormal profit B subnormal profit | normal profit C supernormal profit| normal profit D supernormal profit| supernormal profit

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Marking points from the official mark scheme (May/June 2018). The mark or mark type is shown in brackets.

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Topic: The price system and the microeconomy, A-Level Economics (syllabus 9708). Structured question, 1 mark.
Source: A-Level Economics, May/June 2018 Paper 3 Variant 2, question 11.

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